EU Plans to Extend Steel Import Restrictions to Protect Decarbonization Efforts
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The European Commission is considering extending measures to limit steel imports into the European Union to safeguard the bloc's steel industry during its decarbonization journey.
According to a report by Reuters, Executive Vice-President for Prosperity and Industrial Strategy, Stéphane Sejourne, stated that the commission aims to prevent a surge in steel imports from China once the current safeguard measures expire on June 30, 2026.
The EU's safeguard measures, implemented to protect the domestic steel industry from overcapacity, are subject to World Trade Organization (WTO) rules, which limit their duration to eight years. To ensure continued protection after the expiration of these measures, the commission is exploring alternative options that are compatible with WTO regulations.
The EU's decision to extend steel import restrictions is driven by concerns over the potential impact of US trade barriers and the influx of Chinese steel into the European market. By taking proactive measures, the EU aims to support its steel industry's transition to a low-carbon future while maintaining a competitive edge.
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The European Commission is considering extending measures to limit steel imports into the European Union to safeguard the bloc's steel industry during its decarbonization journey.
According to a report by Reuters, Executive Vice-President for Prosperity and Industrial Strategy, Stéphane Sejourne, stated that the commission aims to prevent a surge in steel imports from China once the current safeguard measures expire on June 30, 2026.
The EU's safeguard measures, implemented to protect the domestic steel industry from overcapacity, are subject to World Trade Organization (WTO) rules, which limit their duration to eight years. To ensure continued protection after the expiration of these measures, the commission is exploring alternative options that are compatible with WTO regulations.
The EU's decision to extend steel import restrictions is driven by concerns over the potential impact of US trade barriers and the influx of Chinese steel into the European market. By taking proactive measures, the EU aims to support its steel industry's transition to a low-carbon future while maintaining a competitive edge.
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